72-T change options

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L1: 72-T change optionsAge 52 (dob 3.31/47) Client began 72-T distributions on Oct. 1, 1999 with account balancae of $ 970,405 using annuitization method @$ 7,785.49 per month. Client has now withdrawn $ 303,634.11 (39 months) with account value as of 12/26/2002 of $ 684,504.79, having been invested 58% bonds and 34 % equities and 8% cash.n
Is the only option available under the “one time change” a change to Minimum Distrilbution Method? Re: your article on Rev Ruling 2002-62 “special rules” .03 Paragraph B. Using those above values of 12/26/2002 it appears that the RMD is $ 16,818.24 for the entire year of 2003!! Ugh! ANy other options available??
Thanks for any reply. John O
2002-12-26 17:56, By: johnboy, IP: [127.0.0.1]

L2: 72-T change optionsYour client will be 56 next year; therefore using the single life table, I get a divisor of 28.7; therefore a 2003 distribution of approx. $23,800; larger than your $16,800 but still a whole lot less than the current $93k per year.
TheBadger
wjstecker@wispertel.net
2002-12-26 18:14, By: TheBadger, IP: [127.0.0.1]